Calculated Industries 3442 - Manual (Page 80)

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(Cont’d)
STEPS KEYSTROKES DISPLAY
1. Enter Fixed-Rate Loan Values and Find Total Payment:
Clear calculator o o 0.00
Enter price 1 0 0 ) P 100,000.00
Enter down payment 1 0 d 10.00
Enter interest 7 ˆ 7.00
Enter term 3 0 T 30.00
Enter MI (mortgage
insurance) value • 5 s 9 0.50
Clear Tax register 0 s 7 0.00
Clear Insurance register 0 s 8 0.00
Solve for P&I payment p 598.77
Solve for PITI payment
(with MI) p 636.27
2. Enter Fixed-Rate Combo Loan Values:
Enter 1st TD Interest:Term 7 : 3 0 ! 7.00-30.00
Enter 2nd TD Interest:Term 9 : 3 0 s ! 9.00-30.00
Enter new 1st:2nd LTV 8 0 : 1 0 s d 80.00-10.00
3. Calculate the Loan Comparison:
Find 1st:2nd blended
interest rate* s 5 7.23
Find equivalent fixed-rate loan
interest rate 5 7.61
Find total combined (1st/2nd)
payment 5 612.70
Find equivalent fixed-rate loan
payment 5 636.27
Find monthly savings over single
fixed-rate loan w/MI 5 23.57
Find adjusted 2nd term (if savings
applied to 2nd loan) 5 14.23
Find 1st TD loan amount 5 80,000.00
Find 2nd TD loan amount 5 10,000.00
Find 1st TD monthly pmt 5 532.24
Find 2nd TD mo. payment 5 80.46
Re-display LTV 5 80.00-10.00
Note: To calculate Interest-Only 2nd Trust Deed Combo Loans on model 3442, press
the
4 key instead of the 5 key in Step 3 of the above example.
For Desktop Model (#43442) Users:
**Press the B key for Desktop Model.
Press s before pressing B to calculate Interest-Only 2nd Trust Deed Combo Loans.